Dry Powder: The Private Equity Podcast
Dry Powder: Live From NEXUS 2025
Mar 12, 2025
Brian Bernasek, Co-Head of Americas Corporate Private Equity at Carlyle, shares his insights from the NEXUS conference. He discusses his market outlook for 2025, emphasizing the rising cost of alpha and the critical role of AI in investment strategies. Bernasek highlights the importance of sector expertise and collaboration in private equity, especially in healthcare and technology. He also advises aspiring investors on the significance of networking and mentorship in navigating the complexities of the industry.
25:27
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Quick takeaways
- The shifting market outlook for 2025 highlights initial optimism giving way to caution due to fluctuating interest rates and inflation.
- Carlyle's competitive edge stems from its sector expertise and strategic collaboration, enabling the firm to capitalize on investment opportunities effectively.
Deep dives
Market Outlook for 2025
The discussion centers on the current market outlook for buyouts in 2025, emphasizing initial optimism at the end of 2024 which has since shifted to uncertainty. Factors influencing this change include fluctuating interest rates, inflation, and evolving credit markets, which initially appeared stable. Notably, there was a sense that a pro-business political landscape would bolster growth, creating enthusiasm for new deals. However, recent concerns over tariffs and other economic variables have tempered expectations, suggesting a slower, steadier approach may be necessary as the market finds its footing again.
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